New ABA White Paper Provides Info, Answers Questions on Payment App Zelle

As part of its efforts to help bankers better understand and employ financial technology, the American Bankers Association has published a new white paper titled “Understanding Zelle.” A supplement to ABA’s Fintech Playbook, the paper provides an overview of Zelle, the fast-growing new person-to-person, bank-centric, rapid payment app. In 2017, consumers sent $75 billion in 247 million transactions using Zelle, a 36 percent greater dollar volume and 45 percent higher in terms of transactions than in 2016.

The white paper explains how consumers use Zelle, whether through their banks’ apps or through a standalone app; what makes Zelle different in terms of speed, fees, privacy and the customer relationship; Zelle applications for commercial transactions; and what joining Zelle means for banks in terms of the technical requirements, user experience, network directory and compliance factors. The white paper also summarizes how Zelle moves funds in-network and out-of-network and addresses other common questions consumers might have.

In addition to the paper on Zelle, ABA has also published supplements on regtech, biometrics, APIs, digital lending and blockchain technology. Bankers can access the papers — which are available free to ABA members — as well as other fintech resources by visiting